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Telos Corporation

TLS Technology Software Infrastructure

Telos Corporation’s revenue for fiscal 2025 (year ended December 2025) was $164.8 million, up 52.2% from fiscal 2024.

Revenue
+32.7%
EPS
+107.7%
Free cash flow
+43.0%
Total debt
−31.8%

Quarter to June 2026, against a year earlier

4.79 0.01 +0.21%
Market cap
$357.2M
P/E
0.0×
Fwd P/E
1,084×
Dividend yield
—
F-score
6/9
Altman Z
2.17
Beneish M
−4.97
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 8.00
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 3 — — 2 — 2 3 — 2 5 — —
Insider Ownership 29.88%

Capital & Financial Ratios $m

Size
Market Cap 357.24
Revenue ttm 193.71
Net income ttm (15.74)
Free cash flow ttm 25.87
Net debt Q (46.11)
Valuation
P/E 0.00
Forward P/E 1,084.00 (above 35: high)
Price / sales 1.85
Forward P/S Powerpack
Price / FCF 13.87
Price / book 3.84
Financial health
Current ratio Q 2.38 (at or above 1.5: strong)
Debt / equity Q 0.05 (at or below 0.5: strong)
Interest coverage Q 2.90
Growth
Revenue growth Q +32.74% (above 0%: growing)
Operating income growth Q +103.14% (above 0%: growing)
EPS, this year +72.40% (at or above 15%: strong)
EPS, next year A +44.44% (at or above 15%: strong)
Revenue, next year A +16.14% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +62.48% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.7×, against a ten-year median of 1.7×; over the ten years it ranged from 0.2× in 2023 to 12.1× in 2021.
P/S against its own 10 years 38.18%
10-year low 10-year high
P/B against its own 10 years 70.88%
10-year low 10-year high
EV/Sales against its own 10 years 49.67%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 99 55 53 51
Receivables 30 19 17 18
Inventory 1 2 — 5
Other 1 3 4 2
140 91 94 97
2023 2024 2025 Q'26
Payables 14 1 4 6
ST’ Debt — — — —
Other 9 7 11 17
39 22 37 41

Compound Annual Growth %

10y 5y 3y
Sales — (1.74%) (8.75%)
Cash Flow — 0.00% 22.28%
Earnings — 0.00% 0.00%
Book Value — (5.47%) (17.74%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.02 Actual 0.04

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.02 0.09 Beat by 0.07
Q4 FY25 0.02 0.06 Beat by 0.04
Q1 FY26 0.02 0.06 Beat by 0.04
Q2 FY26 0.02 0.04 Beat by 0.02
Q3 FY26 0.04 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.03 0.01 — — —
’25 (0.12) (0.13) (0.03) (0.22) (0.50)
’24 (0.10) (0.11) (0.39) (0.13) (0.73)
’23 (0.16) (0.12) (0.12) (0.10) (0.50)
’22 (0.22) (0.18) (0.11) (0.21) (0.79)
’21 (0.23) (0.28) (0.08) (0.08) (0.65)
’20 (0.04) 0.08 0.06 0.08 0.04
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 48 48 — — —
’25 31 36 51 47 165
’24 30 28 24 26 108
’23 35 33 36 41 145
’22 50 56 64 47 217
’21 56 54 69 64 242
’20 39 49 47 45 180
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 9 9 — — —
’25 6 7 9 8 30
’24 0 (8) (7) (11) (26)
’23 0 (4) 1 5 2
’22 0 8 12 (4) 17
’21 (7) 4 13 (2) 7
’20 2 (1) 11 (14) (2)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 6 7 — — —
’25 4 5 7 6 21
’24 (4) (11) (10) (15) (40)
’23 (4) (9) (3) 2 (14)
’22 (3) 5 8 (8) 3
’21 (10) 1 9 (7) (6)
’20 0 (3) 9 (15) (10)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 135 108 138 159 180 242 217 145 108 165 194 +2.3% 191 192 217 +9.5%
Gross margin, % 32.21 37.66 38.45 32.88 34.69 35.49 36.44 36.42 31.80 37.02 36.64 +4.8 pt
EBT (3) (6) 2 (2) 7 (43) (53) (34) (52) (37) (16) +30.7%
EBT margin, % (2.47) (5.82) 1.28 (1.41) 3.78 (17.80) (24.61) (23.65) (48.48) (22.58) (8.46) (20.1) pt
Net income (7) 0 2 (2) 7 (43) (53) (34) (53) (37) (16) +19.8%
Per share, $
Per share, $ Revenue 2.08 1.67 3.75 4.22 4.32 3.65 3.21 2.10 1.51 2.26 2.59 +0.9%
Earnings (0.11) (0.09) 0.05 (0.17) 0.04 (0.65) (0.79) (0.50) (0.73) (0.50) (0.21) +18.3%
Cash flow 0.21 (0.01) 0.17 0.31 (0.05) 0.11 0.24 0.02 (0.36) 0.41 0.46 +7.6%
Capex 0.00 0.00 (0.11) (0.17) (0.18) (0.20) (0.20) (0.22) (0.19) (0.12) (0.12) n/m
Free cash flow 0.21 (0.01) 0.06 0.14 (0.23) (0.09) 0.04 (0.20) (0.55) 0.29 0.35 +3.5%
Book value (2.04) (2.12) 0.00 (3.62) 3.05 2.72 2.55 2.30 1.77 1.32 1.25 n/m
Shares, m 65 65 37 38 42 66 68 69 72 73 74 +1.3%
Valuation, ×
Valuation, × P/E 367.57 367.57 367.57 367.57 178.08 0.00 0.00 0.00 0.00 0.00 0.00 164.8
P/S 4.36 4.36 4.36 4.36 7.63 4.22 1.62 1.94 2.27 2.26 1.85 3.7
P/B 0.00 0.00 0.00 0.00 10.81 5.68 2.03 1.77 1.93 3.87 3.84 2.6
EV/Sales 4.49 4.49 4.49 4.49 7.22 3.82 1.20 1.44 1.99 2.07 1.70 3.6
EV/FCF 56.15 56.15 56.15 56.15 (135.76) (156.88) 92.98 (15.05) (5.43) 16.04 12.74 2.0
Cash, $m
Cash, $m Operating cash flow 14 (1) 6 12 (2) 7 17 2 (26) 30 35 +9.0%
Capex (1) (2) (4) (7) (7) (13) (14) (15) (14) (9) (9) +34.4%
Free cash flow 14 (1) 2 5 (10) (6) 3 (14) (40) 21 26 +4.9%
Balance, $m
Balance, $m Working capital (9) (6) 2 3 105 141 122 101 69 58 56 n/m
Net debt 152 163 166 28 (92) (114) (108) (90) (47) (48) (46) n/m
Shareholders’ equity (132) (137) — (137) 127 180 172 159 127 96 93 n/m
Returns, %
Returns, % ROA (10.24) (19.31) 0.00 (9.27) 1.29 (20.07) (22.10) (15.43) (28.63) (24.52) (10.33) (14.3) pt
ROIC 0.00 0.00 3.40 0.00 0.52 (38.95) (52.34) (36.38) (43.54) (51.52) (25.38) (51.5) pt
ROE 5.33 4.33 1.21 4.72 (35.45) (28.07) (30.30) (20.78) (36.71) (32.76) (14.86) (38.1) pt
People
People Employees — — — — 785 849 738 619 519 525 — (7.7%)
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.23 0.29 0.29 0.23 0.21 0.31 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Telos Corporation vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RZLV Rezolve AI PLC $508.6M — (loss-making) — — n/m −81,583.43% (below 0%: shrinking) — 0.00% Compare
BLZE Backblaze, Inc. $479.7M — (loss-making) — (loss-making) +25.54% (above 0%: growing) n/m +229.34% (above 0%: growing) 63.96% (3.02%) Compare
BRUN Boost Run Inc. $466.2M — — — — — — — Compare
ALLT Allot Ltd. $403.3M 38.9× 54.3× +15.33% (above 0%: growing) n/m +122.93% (above 0%: growing) 71.27% 3.96% Compare
RPAY Repay Holdings Corporation $402.1M — (loss-making) — (loss-making) +33.16% (above 0%: growing) n/m +21.11% (above 0%: growing) 70.13% (3.23%) Compare
CINT CI&T Inc. $400.6M 10.6× 10.9× +21.88% (above 0%: growing) −28.57% (below 0%: shrinking) −1,767.69% (below 0%: shrinking) 31.09% 8.45% Compare
TLS Telos Corporation $357.2M — (loss-making) 1,084× +32.74% (above 0%: growing) n/m +42.95% (above 0%: growing) 34.96% 0.65%
PSFE Paysafe Limited $344.1M — (loss-making) — (loss-making) +4.49% (above 0%: growing) n/m −148.29% (below 0%: shrinking) 54.48% (2.84%) Compare
LSAK Lesaka Technologies, Inc. $306.3M 105× 27.5× +7.65% (above 0%: growing) n/m +167.38% (above 0%: growing) 32.79% (0.58%) Compare
Median of peers $402.7M 38.9× 27.5× +18.61% — +21.11% 59.22% (0.58%)

All 183 Software Infrastructure stocks →

Pay and ownership Proxy statement filed 27 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.85m 14.07m 15.46
2024 18.08m 7.81m 10.37
2023 1.25m (12.93k) 11.07
2022 10.73m 2.38m 15.43
2021 12.20m 5.86m 46.76
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Telos Corporation (TLS) Latest News

29 Oct

Impact 3 · · Zacks

27 Oct

Impact 4 · · Zacks

26 Oct

Impact 3 · · GlobeNewswire

19 Oct

Impact 3 · · Zacks

5 Oct

Impact 3 · · Investing.com
Impact 3 · · GlobeNewswire

1 Oct

Impact 4 · · GlobeNewswire

28 Sep

Impact 4 · · GlobeNewswire

8 Sep

Impact 3 ·

3 Sep

Impact 3 ·

31 Aug

Impact 4 ·

28 Aug

Impact 3 ·

17 Aug

Impact 4 · · The Motley Fool transcript

10 Aug

Impact 4 · transcript
Impact 3 · · MarketBeat transcript
Impact 3 ·

3 Aug

Impact 3 ·

9 Jul

Impact 4 ·

3 Jul

Impact 3 ·

14 May

Impact 4 · · Business Wire

12 May

Impact 4 · · GuruFocus.com
Impact 3 · · Moby transcript

11 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Zacks
Impact 3 · · MarketBeat
Impact 3 ·
Impact 3 ·

4 May

Impact 3 · · Zacks

29 Apr

Impact 3 ·

9 Apr

Impact 4 · · GlobeNewswire
stockrow.com/TLS · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com